Slide 1: 1Q26 results presentation
1Q26 results presentation GDANSK, 11 JUNE 2026
Slide 2: Disclaimer
Disclaimer This presentation (the “Presentation”) was prepared by LPP SA presented in this document. Many of those factors are beyond (the “Company”) with due care. Still, it may contain certain the awareness and control of the Company or the Company’s inconsistencies or omissions. The Presentation
Slide 3: Summary 1Q26
01 Summary 1Q26 1Q26 PRESENTATION 3
Slide 4: Growth based on a strong financial position
Growth based on a strong financial position 121 PLN 562m PLN 900 1.2x opened stores in investment proposed net debt/ including 102 in the quarter dividend EBITDA in Sinsay brand including nearly PLN 300m (+36% YoY) very safe level of debt, in logistics an interim dividend decline YoY of PLN 400 pe
Slide 5: The 5th consecutive quarter of improved profitability
The 5th consecutive quarter of improved profitability 5.5 1.3 688 475 PLN bn PLN bn PLN m PLN m revenue EBITDA operating profit net profit +10% YoY1 +36% YoY +47% YoY +42% YoY 1Revenue growth in constant currencies: +11% Data for 2025 have been adjusted for the impact of the write-offs - receivables
Slide 6: Steady development of Sinsay chain
Steady developmenet of Sinsay chain NO. OF NEW STORES NO. OF STORES BY BRAND # (gross) # (net YoY, as at 30.04.2026) 365 FLOORSPACE 296 243 Poland (+14) 381 1,046 ths. m2 232 (0) +9% YoY 348 253 380 136 Abroad 200 121 (-4) 3,841 2,075 ths. m2 (+882) +32% YoY 112 102 361 2,476 24 43 32 17 19 (+7) (+8
Slide 7: Sinsay: focus on quality
Sinsay: focus on quality STORE PROFITABILITY1 SHARE OF PROFITABLE STORES1 PROFITABILITY BY STORE SIZE1,2 (EBITDA %) 32.4% 60% 31.1% 31.6% 31.2% 50% 30.0% Sinsay 31.3% 32.0% 50% 30.9% 24.3% 29.5% avg. EBITDA: 31% 25.0% 30% 40% 24.1% 20.0% heritage brands 10% 30% avg. EBITDA: 31% 15.0% 98% 98% 98% 96%
Slide 8: Growth in key regions
wth in key regions POLAND CEE SEE No. of Floorspace No. of Floorspace No. of Floorspace stores (ths m2) stores (ths m2) stores (ths m2) 1,339 1,046 548 448 1,005 847 +123 +9% +113 +19% +308 +32% BALTICS WE EE & CA No. of Floorspace No. of Floorspace No. of Floorspace stores (ths m2) stores (ths m2)
Slide 9: Reserved x Lebrand; Reserved x The Devil Wears Prada 2
RESERVED X LEBRAND Reserved has launched a limited-edition, summer capsule collection for women, men and children created in collaboration with the LEBRAND brand – The project combines the DNA of both brands, using RESERVED X THE DEVIL WEARS PRADA 2 high-quality materials and minimalist designs, whi
Slide 10: Mohito debuts in Greece
MOHITO DEBUTS IN GREECE The opening in April 2026 of the first Mohito store in Thessaloniki, Greece’s second-largest city. The store with an Floorspace of over 570m2, is located on one of the city’s main streets, Agias Sofias. The full range of the brand will be available, from clothing and accessor
Slide 11: Start of work on the e-commerce warehouse in Tczew
START OF WORK ON THE E-COMMERCE WAREHOUSE IN TCZEW The new Fulfillment Centre (FC) in Tczew is our own logistics investment. Area – 60 ths. m2 Location – Tczew Over 1,000 robots and automated packing lines Handling over 400,000 items per day Start of operations – 1Q27 Target: To strengthen
Slide 12: 1Q26 financial results
02 1Q26 financial results 1Q26 PRESENTATION 12
Slide 13: 1Q26: weather-related
1Q26: weather-related TEMPERATURE DEVIATION FROM THE HISTORICAL AVERAGE – WARSAW (°C) 9 9 8 7 8 66 6 7 7 6 6 5 5 5 5 4 4 4 44 44 4 4 4 3 3 4 4 3 3 2 33 2 2 3 2 2 3 2 2 2 2 1 2 2 1 1 1 1 1 1 1 0 0 0 0 0 -1 0 -1 -1 -1 -1 -2 -2 -3 -3 -3 -4 -4 -4 -4 -5 -5 -5 -5 -5 -5 -6 -6 -8 -7 -9 -12 -13 -14 -2.5°C +1
Slide 14: Sales in LFL stores
Sales in LFL stores 7.5% 7.5% 4.3% 4.3% 3.2% 1.4% 1.6% -0.5% -2.8% 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 Sinsay 20.3% 8.7% 11.2% 1.5% 0.9% -0.6% -1.7% -1.6% -6.8% heritage -0.7% -0.5% 4.6% 1.4% 7.9% 3.7% 10.8% 0.5% 2.2% brands 1Q26 PRESENTATION 14
Slide 15: Higher growth in offline than online
Higher growth in offline than online GROUP REVENUES Impact of FX rates in 1Q26: ca. -0.3 pp. PLN m Sales abroad (+13.9% YoY) grew faster than in Poland (+6.2% YoY). +10% 5,472 Online sales in 1Q26 accounted for 26.6% of the 4,954 Group’s revenue (29.2% in 1Q25). +15.0% 4,004 E-commerce sales
Slide 16: Record-high gross margin in 1Q
Record-high gross margin in 1Q QUARTERLY GROUP GROSS PROFIT MARGIN Higher YoY gross profit margin despite the growing share of Sinsay brand in sales. +4.5 pp. 58.5% Collections ordered at a favourable US$/PLN FX 57.6% rate, with a visible positive effect from the 56.6% strengthening of the zloty
Slide 17: Efficient management of SG&A costs
Efficient management of SG&A costs SG&A COSTS/M2 SG&A costs/m2 fell by 8.7% YoY thanks to the implementation of automation in e-commerce 550 44% +1.1 pp. 45% 50 logistics and continued cost control at 500 41% 45 40% 450 39% 40 headquarters. 400 35 350 An increase in SG&A costs of 13.2% YoY, main
Slide 18: Strong profit growth in 1Q26
Strong profit growth in 1Q26 EBITDA EBIT NET PROFIT PLN m PLN m PLN m +36% +47% +42% 1,282 942 688 475 468 335 1Q25 1Q26 1Q25 1Q26 1Q25 1Q26 19.0% 23.4% 9.4% 12.6% 6.8% 8.7% EBITDA margin EBIT margin Net profit margin Data for 1Q25 have been adjusted for the impact of the write-offs - receivables fr
Slide 19: Inventory level under control
Inventory level under control INVENTORY AND INVENTORY/M2 At the end of 1Q26, inventory amounted to PLN -25% 4.4bn, a YoY decrease of PLN 360n (-7.5% YoY). 7,000 1,918 1,903 1,964 6,000 1,816 1,827 2,000 In 1Q26, inventory/m2 decreased by 25.1% YoY, mainly 1,693 1,542 1,507 due to a high base, an
Slide 20: Favourable working capital
Favourable working capital WORKING CAPITAL Cash conversion cycle at a favourable negative PLN m -540 level of -28 days: -749 faster inventory turnover (down from 187 to 179 days), 4,786 4,426 stable accounts receivable payments cycle (ca. 3 days), 187 180 reduction payment terms for trade li
Slide 21: Investment projects in line with the plan
Investment projects in line with the plan CAPEX Expenditure on stores in 1Q26 amounted PLN m to PLN 252m (-9% YoY) due to the continued 700 -8% opening of new traditional stores, mainly 613 600 562 of Sinsay brand. 500 276 PLN 276m (-6% YoY) in logistics investments, 252 400 mainly related to th
Slide 22: Safe debt level
Safe debt level NET DEBT At the end of 1Q26, net debt according to (PLN m, IFRS16) IFRS16 amounted to PLN 7.1bn, including PLN 1.3 1.3 8,000 1.2 1.3 5.7bn due to leases. 1.1 1.1 1.2 7,000 1.1 Net debt includes PLN 0.6bn in money market 6,000 1.0 0.9 funds at the end of 1Q26 (PLN 1.0bn in 1Q25).
Slide 23: 1Q26 summary
1Q26 summary Strong profit growth 01 Profit growth at every level: EBITDA, EBIT, net profit, for the 5th consecutive quarter. Development focused on profitability 02 Expansion of Sinsay network whilst maintaining strong financial performance and adapting to market conditions. Cost efficiency 03 A de
Slide 24: Plans for 2026+
03 Plans for 2026+ 1Q26 PRESENTATION 24
Slide 25: Outlook for 2Q
Outlook for 2Q 20% YoY growth in the Group’s sales in ca. between 1 May and 9 June (impact of FX rates ca. -0.5 pp.): YoY, constant currencies 1 May 2026–9 June 2026 Sales +20% online +17% LFL +4% The gross margin for the period under review was higher than last year. Planned opening of around
Slide 26: Sinsay: the current market environment in the region
Sinsay: the current market environment in the region Ukraine high brand recognition, market leader in both sales channels Poland selective expansion given the current high brand recognition scale and market environment very strong network performance CEE high brand recognition economic s
Slide 27: Expansion of Sinsay store chain in 2026–2027
Expansion of Sinsay store chain in 2026–2027 NO. OF NEW SINAY STORES -200 950 In Poland, development will continue in line with the 750 750 original plan. In 2027, a similar pace of openings is planned, but adjusted to market conditions. From 2027, the average floorspace of new stores will be
Slide 28: Sinsay: strengthening sales growth
Sinsay: strengthening sales growth INITIAL CHALLENGES ACTIONS LFL E-COM RESULTS COLLECTION “Back to fashion” The structure and timing of the Smart Value: price + quality + design SALES OMICHANNEL LEVERAGE collection were not aligned with Accelerating decision-making – use of AI, 2H26 Positive
Slide 29: Medium-term targets
Medium-term targets 2026 2025 2026 2027 update Sales from core business, PLN bn 23.1 ca. 28 – 29 ca. 26 – 27 ca. 30-31 including: Offline 16.6 ca. +20 - 25% YoY ca. +16 - 20% YoY ca. +15 - 20% YoY Online 6.4 ca. +20% YoY ca. +10 - 12% YoY ca. 15% YoY Gross profit margin on sales 55.6% 55.0% - 55.5%
Slide 30: 2028+ framework plan
2028+ framework plan STORE NETWORK positive LFL, above inflation across all brands FINANCIAL STRENGTH 2028: around 750 new Sinsay stores gross profit margin on sales: from 2029: around 300–350 openings per year, selectively in the best locations min. 55% project implementation plan that is
Slide 31: Q&A
04 Q&A 1Q26 PRESENTATION 31
Slide 32: Back-up
05 Back-up 1Q26 PRESENTATION 32
Slide 33: Lower costs of own stores
Lower costs of own stores COSTS OF OWN STORES/M2 Lower YoY rental costs/m2 → higher number of Sinsay stores opened with lower rent. 240 220 Lower YoY personnel (HR) costs/m2 → effective 200 -6% 180 165 168 management of working hours in stores. 164 162 160 155 140 52 50 51 51 Decrease YoY in o
Slide 34: Selected financial results
Selected financial results PLN m, IFRS16 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 YoY Revenues 4,306 5,005 5,212 5,671 4,954 5,554 6,141 6,460 5,472 10.5% 1 Revenues 4,074 4,731 5,050 5,550 4,954 5,554 6,141 6,460 5,472 10.5% 1 Revenues YoY +21.4% +14.6% +21.9% +20.9% +21.6% +17.4% +21.6% +16.4%
Slide 35: Glossary
Glossary Poland Retail sales in Poland and other sales of LPP SA. Region comprising: CEE (Czech Republic, Slovakia, Hungary), Baltic (Lithuania, Latvia, Estonia), SEE (Bulgaria, Romania, Croatia, Serbia, Slovenia, Bosnia Other countries and Herzegovina, North Macedonia, Greece, Albania, Kosovo, Mold
Slide 36: Contact
Contact LPP SA HQ ul. Łąkowa 39/44, 80-769 Gdańsk Tel. +48 58 76 96 900 Email: lpp@lpp.com CONTACT FOR INVESTORS Email: LPP.investor.relations@lpp.com CONTACT FOR MEDIA Email: media@lpp.com discoverlpp company/lpp-sa discoverlpp discoverlpp 1Q26 PRESENTATION